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Majority of Korean Firms See Japan Ties as Key to Future Growth

Majority of Korean Firms See Japan Ties as Key to Future Growth

SEOUL, June 19 (Korea Bizwire) — Over half of South Korean companies view economic cooperation with Japan as beneficial and believe it should continue, a survey showed Thursday, as the two nations mark the 60th anniversary of the normalization of diplomatic ties this year. In the poll conducted by the Federation of Korean Industries (FKI) [...]

Bank of Korea Urges Rethink on Housing Policy to Curb Growing Regional Divide

Bank of Korea Urges Rethink on Housing Policy to Curb Growing Regional Divide

SEOUL, June 19 (Korea Bizwire) — The Bank of Korea has warned that continued efforts to stimulate construction investment through non-capital region housing projects may be exacerbating the nation’s widening housing market divide, rather than resolving it. In a report released Wednesday, the central bank argued that building new homes in low-demand regions outside the [...]

Housing Price Polarization Worsens; Additional Supply Outside Capital Undesirable: BOK

Housing Price Polarization Worsens; Additional Supply Outside Capital Undesirable: BOK

SEOUL, June 18 (Korea Bizwire) — Housing prices in Seoul and non-capital regions have diverged further in recent years amid ongoing economic and social changes, and the government is advised to avoid stimulating construction investment through additional housing supply in non-capital areas, the central bank said Wednesday. The gap in cumulative housing price increases between [...]

S. Korea’s Living Costs Significantly Above OECD Average: BOK

S. Korea’s Living Costs Significantly Above OECD Average: BOK

SEOUL, June 18 (Korea Bizwire) – Essential living costs in South Korea are significantly higher than those in other major nations, hindering the recovery of consumer spending, the central bank said Wednesday. South Korea’s price indices for food, clothing and housing stood at 151, 161 and 123, respectively, based on the average price level of [...]

2050 Forecast: Fewer Workers, Higher Welfare Burden in Aging South Korea

2050 Forecast: Fewer Workers, Higher Welfare Burden in Aging South Korea

SEOUL, June 18 (Korea Bizwire) — South Korea faces a steep economic cost from population decline and rapid aging, with public spending on pensions and healthcare projected to double to 20% of GDP by 2050, according to a report released Tuesday by the Bank of Korea. In the report titled “Employment Trends and Implications Based [...]

Older, Conservative South Koreans Drive Surge in YouTube News Consumption

Older, Conservative South Koreans Drive Surge in YouTube News Consumption

SEOUL, June 18 (Korea Bizwire) – In South Korea, older and more conservative citizens are increasingly turning to YouTube as their primary source of news, while younger and progressive users appear to be migrating away from the platform, according to the Digital News Report 2025 published by the Korea Press Foundation in partnership with the [...]

Foreign Tourists Praise South Korea’s Punctual Rail Services, Survey Finds

Foreign Tourists Praise South Korea’s Punctual Rail Services, Survey Finds

SEOUL, June 18 (Korea Bizwire) — Foreign visitors to South Korea ranked punctuality as the most satisfying aspect of the country’s railway services, according to a new customer satisfaction survey released by national rail operator KORAIL. The survey, conducted on May 18–19, polled 301 foreign tourists at major transportation hubs including Seoul Station, Busan Station, [...]

Eco-Friendly Cars Outsell Gasoline Vehicles for First Time in South Korea

Eco-Friendly Cars Outsell Gasoline Vehicles for First Time in South Korea

SEOUL, June 17 (Korea Bizwire) — For the first time in South Korean history, eco-friendly vehicles—including electric, hybrid, and plug-in hybrid models—surpassed internal combustion engine (ICE) vehicles in domestic monthly sales, signaling a significant market shift as electric vehicle (EV) concerns begin to ease. According to data released Tuesday by the Ministry of Trade, Industry [...]

Healthcare Workers Sound Alarm Over Widening Physician Shortage in Korea

Healthcare Workers Sound Alarm Over Widening Physician Shortage in Korea

SEOUL, June 17 (Korea Bizwire) — A growing number of South Korean healthcare workers believe the country is facing a severe shortage of doctors, a situation they say has worsened over the past year and is fueling systemic strain across hospitals. According to a survey released Monday by the Korean Health and Medical Workers’ Union, [...]

Effectiveness of Endoscopic Cancer Tests Declines After Age 80, Korean Study Shows

Effectiveness of Endoscopic Cancer Tests Declines After Age 80, Korean Study Shows

SEOUL, June 17 (Korea Bizwire) — A new government-backed study has raised doubts about the effectiveness of routine endoscopic screenings for stomach and colorectal cancers in South Koreans aged 80 and older, prompting calls for more individualized screening guidelines for elderly patients. The Korea Health Industry Development Institute (KHIDI) released a report Monday based on [...]